Rocket Companies (NYSE:RKT) Price Target Raised to $8.00

Rocket Companies (
NYSE:RKT
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had its price objective boosted by The Goldman Sachs Group from $7.00 to $8.00 in a research note released on Thursday morning,
Benzinga
reports. The firm currently has a neutral rating on the stock.

Other analysts have also issued reports about the stock. Credit Suisse Group lowered shares of Rocket Companies from a neutral rating to an underperform rating and set a $7.00 target price for the company. in a report on Monday, January 9th. JPMorgan Chase & Co. increased their target price on shares of Rocket Companies from $7.00 to $8.00 in a report on Tuesday, January 10th. Citigroup increased their target price on shares of Rocket Companies from $7.00 to $8.00 and gave the stock a neutral rating in a report on Wednesday. Argus lowered shares of Rocket Companies from a hold rating to a sell rating in a report on Wednesday, November 16th. Finally, Barclays raised their price objective on shares of Rocket Companies from $4.50 to $6.00 in a report on Friday, January 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $7.67.

Rocket Companies stock
opened at $8.64 on Thursday. The company has a current ratio of 10.67, a quick ratio of 11.69 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average of $8.44 and a 200-day moving average of $7.86. The firm has a market cap of $17.03 billion, a P/E ratio of 27.00 and a beta of 2.05. Rocket Companies has a 1-year low of $5.97 and a 1-year high of $14.25.

Insider Activity at Companies

Rocket Companies stock was purchased in a transaction on Thursday, December 15, 2015. The stock was purchased at an average $8.00 per share and a total of $200,000.00. The transaction was completed and the chief executive officer now owns 5,914,807 shares. This stock is valued at $47.318,456 Over the past 90 days, 64,900 shares were purchased by insiders. This stock was worth $528,922 in total. Corporate insiders control 94.01%.

Institutional Investors Weigh In On Rocket Companies

Many institutional investors and hedge funds recently changed their RKT positions. Ancora Advisors LLC bought a new stake of Rocket Companies worth $81,000 in the first quarter. FMR LLC increased its Rocket Companies holdings by 134.7% during the second quarter. FMR LLC now holds 3,598 shares of company stock, which is worth $26,000. In the fourth quarter, Deutsche Bank AG increased its Rocket Companies holdings by 658.7%. Deutsche Bank AG now holds 3,892 shares in the company's stock, worth $27,000. This is after it purchased an additional 3,379 shares over the past quarter. US Bancorp DE increased its holdings of Rocket Companies by 341.4% during the first quarter. After purchasing 3,414 additional shares in the last quarter, US Bancorp DE now has 4,414 shares of company stock valued at $49,000. Captrust Financial Advisors increased its holdings of Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now has 4,451 shares of company stock, which is worth $33,000. They also purchased an additional 2,851 shares in the last quarter. Institutional investors hold 3.99% of the stock.

Rocket Companies Company Profile

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Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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